| Course Unit Code | 114-0509/01 |
|---|
| Number of ECTS Credits Allocated | 6 ECTS credits |
|---|
| Type of Course Unit * | Choice-compulsory |
|---|
| Level of Course Unit * | First Cycle |
|---|
| Year of Study * | |
|---|
| Semester when the Course Unit is delivered | Winter Semester |
|---|
| Mode of Delivery | Face-to-face |
|---|
| Language of Instruction | English |
|---|
| Prerequisites and Co-Requisites | Course succeeds to compulsory courses of previous semester |
|---|
| Name of Lecturer(s) | Personal ID | Name |
|---|
| BAD0012 | Ing. Ondřej Badura, Ph.D. |
| Summary |
|---|
| The aim of the course is the ability of study – participants to apply general economic theory, mainly microeconomics, to business and managerial decision processes. The course creates platform for purposeful interconnection between traditional economic theory and the theory of decision making. In some sense the course of managerial economics represents the bridge between relatively abstract theoretical background of rational decision making and managerial practice. The emphasis is selectively laid on those microeconomic topics that are the most helpful to realistic interpretation of economic environment surrounding the firm. The natural focus of the course is represented by the theory of the firm. There are overlaps to management, marketing, psychology, macroeconomics, institutional economics and sociology. |
| Learning Outcomes of the Course Unit |
|---|
- ability to apply general economic theory in business and managerial processes
- acquiring economic analysis of a firm
- acquiring economic analysis of demand
- ability to make decisions under risk and uncertainty
- understanding of prediction models within the corporate environment |
| Course Contents |
|---|
1.-2.-3. Theory of consumer‘s behaviour (theory of demand, elasticities and their practical implications)
4.-5.-6. Theory of firm‘s behaviour (costs, economies of scale and economies of scope)
7.-8.-9. Market structures (decision making in different market structures, games theory)
10.-11.-12. Imperfect and asymmetric information (risk and uncertainty, decision making process with imperfect information, moral hazard and adverse selection)
13.-14. Firm in macro environment (interaction between firms and central authorities, public choice theory)
|
| Recommended or Required Reading |
|---|
| Required Reading: |
|---|
HIRSCHEY, Mark, Eric BENTZEN and Carsten SHEIBYE. Managerial economics. Andover: Cengage, 2019. 796 p. ISBN 978-1-4737-5835-3.
PNG, Ivan and Dale E. LEHMAN. Managerial Economics. 3rd ed. Malden: Blackwell, 2007. 477 p. ISBN 978-1-4051-6047-6.
MCGUIGAN, James R., R. Charles MOYER and Frederick H. deB HARRIS. Managerial economics: applications, strategies, and tactic. 14th ed. Boston: Cengage Learning, 2017. 689 p. ISBN 978-1-305-50638-1. |
HIRSCHEY, Mark, Eric BENTZEN and Carsten SHEIBYE. Managerial economics. Andover: Cengage, 2019. 796 p. ISBN 978-1-4737-5835-3.
PNG, Ivan and Dale E. LEHMAN. Managerial Economics. 3rd ed. Malden: Blackwell, 2007. 477 p. ISBN 978-1-4051-6047-6.
MCGUIGAN, James R., R. Charles MOYER and Frederick H. deB HARRIS. Managerial economics: applications, strategies, and tactic. 14th ed. Boston: Cengage Learning, 2017. 689 p. ISBN 978-1-305-50638-1. |
| Recommended Reading: |
|---|
HIRSCHEY, Mark. Fundamentals of managerial economics. 9th ed. Australia: South-Western Cengage Learning, 2009. 792 p. ISBN 978-0-324-58856-9.
THOMAS, Christopher R. and S. Charles MAURICE. Managerial economics: foundations of business analysis and strategy. 12th edition. New York: McGraw-Hill Education, 2016. 714 p. ISBN 978-1-259-25107-8.
KRUGMAN, Paul R. and Robin WELLS. Microeconomics. 4th ed. New York: Worth Publishers, 2015. 606 p. ISBN 978-1-4641-4387-8. |
HIRSCHEY, Mark. Fundamentals of managerial economics. 9th ed. Australia: South-Western Cengage Learning, 2009. 792 p. ISBN 978-0-324-58856-9.
THOMAS, Christopher R. and S. Charles MAURICE. Managerial economics: foundations of business analysis and strategy. 12th edition. New York: McGraw-Hill Education, 2016. 714 p. ISBN 978-1-259-25107-8.
KRUGMAN, Paul R. and Robin WELLS. Microeconomics. 4th ed. New York: Worth Publishers, 2015. 606 p. ISBN 978-1-4641-4387-8. |
| Planned learning activities and teaching methods |
|---|
| Lectures, Seminars, Individual consultations |
| Assesment methods and criteria |
|---|
| Tasks are not Defined |